Safeway 2011 Annual Report Download - page 57

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SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In millions)
52 Weeks
2011
52 Weeks
2010
52 Weeks
2009
Operating Activities:
Net income (loss) before allocation to noncontrolling interest $ 518.2 $ 590.6 $(1,097.5)
Reconciliation to net cash flow from operating activities:
Goodwill impairment charge –– 1,974.2
Depreciation expense 1,148.8 1,162.4 1,171.2
Property impairment charges 44.7 71.7 73.7
Share-based employee compensation 50.0 55.5 61.7
Excess tax benefit from share-based employee compensation (1.8) (1.6) (0.1)
LIFO expense (income) 35.1 (28.0) (35.2)
Equity in earnings of unconsolidated affiliate (13.0) (15.3) (8.5)
Net pension and post-retirement benefits expense 114.3 125.2 140.1
Contributions to pension and post-retirement benefit plans (176.2) (17.7) (24.4)
(Gain) loss on property dispositions and lease exit costs, net (65.6) (27.5) 12.7
Increase (decrease) in accrued claims and other liabilities 23.2 36.2 (34.3)
Deferred income taxes (63.7) (31.3) (142.1)
Amortization of deferred finance costs 5.4 4.8 4.8
Other 19.9 (6.6) 26.7
Changes in working capital items:
Receivables (2.1) 14.6 26.0
Inventories at FIFO cost 95.0 (64.4) 173.5
Prepaid expenses and other current assets (13.1) (15.3) (30.4)
Income taxes 91.4 (3.7) 188.6
Payables and accruals (80.5) 7.0 (101.4)
Payables related to third-party gift cards, net of receivables 293.6 (6.9) 170.4
Net cash flow from operating activities 2,023.6 1,849.7 2,549.7
Investing Activities:
Cash paid for property additions (1,094.7) (837.5) (851.6)
Proceeds from sale of property 188.0 84.5 22.9
Investments and business acquisitions (35.9) ––
Other (71.9) (45.8) (60.3)
Net cash used by investing activities (1,014.5) (798.8) (889.0)
39